Nobody likes the sound of trade war, and rightly so. China’s new retaliatory tariffs moves against US products feel like the beginning of something bad: an escalating tit-for-tat trade conflict between the world’s richest countries which could choke the global economy.
But there are good reasons to think that, far from being another silly move by a hothead president, Trump’s right about trade with China and that, as he has with North Korea, he is grasping a dangerous nettle that other presidents dared not touch. It may be scary, but it needs to be done. And it’s not just necessary for America, but perhaps the rest of the world as well.
China is deeply protectionist, and is rapidly becoming the most powerful country on earth. Beijing has a predatory approach to industry, which has propped up the world economy in recent years, but also damages it in the longer term.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in